Boxing champion Saul Alvarez signs 'richest sports contract ever'

This mammoth deal, which will span 5 years and 10 fights, is being called "the highest paid guaranteed contract in sports history" by Canelo's promoter Golden Boy Promotions.

The reported value of the deal would top the previous most-valuable contract - the $325m 13-year deal of baseball star Giancarlo Stanton in 2014. DAZN, which launched in the United States in September, stepped up to the plate, culminating with a deal that will begin when Alvarez fights Rocky Fielding on December 15 at Madison Square Garden in NY.

The move comes after DAZN, which only launched in the USA in September, looks to exploit a gap in the market after HBO announced it will end its 45-year history of broadcasting boxing at the end of 2018.

One of the major factors behind Alvarez, who used to fight on HBO before they pulled out of boxing, signing with DAZN was being able to reach more fans.

"This is only from my hard work", Alvarez told ESPN shortly after signing the deal at 1 a.m. ET at a hotel in Times Square. "The most important thing to me was being able to give the fans the opportunity to see me fight without having to pay the $70 or $80 for my fights on pay-per-view".

Alvarez's fights have always been shown on HBO thanks to the premium cable network's agreement with Oscar De La Hoya's Golden Boy Promotions.

"Today I am thrilled to be here as we announce the beginning of a new era in boxing and the USA harbinger of a global transformation to a fan-centered and fan-friendly presentation of sports in OTT subscription services".

"If he wants to return, I ask him to look my way to give a great fight to the fans". "Being part of this historic deal will require me to prepare myself even more and offer fans even better performances. I've always liked a challenge, and this is yet another challenger in my career".

Alvarez said he has confidence DAZN will succeed.

Alvarez (50-1-2, 34 KOs) is coming off a victory over Gennady Golovkin in a middleweight showdown in September.

Alvarez, 28, is from Mexico.

The Perform-owned streaming services signed an eight-year deal with United Kingdom promoter Eddie Hearn earlier this year worth $1bn.

Lionel Messi, who earned $111 million past year, is likely to be his main competition for the highest-earning athlete title, but reports indicate that Alvarez could have earned upwards of $120 million for 2018 by the time of his debut fight with DAZN.